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House Price Crash
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[quote][i]Originally posted by Phil321[/i] [quote][i]Originally posted by John[/i] Talks of price crashes are generated solely by the media. [/quote] You're giving them more credit than they deserve. The banks have brought about this situation with irresponsible lending over the past 10yrs. Whilst there might not be a crash on the scale of that witnessed in Japan even a stagnation in house prices over 5 yrs with inflation running @ 3.5% will lead to a real fall of not much short of 20%. As mentioned though, some areas will be hit harder than others. I'd imagine that once their fixed rate deals from 2/3yrs ago run out there will be any number of buy to let landlords dumping property/having it repossessed when they realise that they can't remortgage or the rate they can now get means that the rent doesn't cover it anymore. These are the situations the wise investor will take advantage of. "When those around you are being greedy, be fearful. When those around you are being fearful, be greedy." [/quote]
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